It's January and it's the time of year when most people look to make changes, and that includes changes in their jobs. It is also a time when most companies begin posting new positions. Depending on which side of this scenario you are sitting on will determine if that is good news or bad news for you and your company.
Consider this. In a recent job satisfaction survey, compensation was indicated as the most important factor for job satisfaction for employees under the age of 35 as well as those between the ages of 36 to 55. (Source: SHRM 2006 Job Satisfaction Survey.) Surprising? Maybe, particularly when you consider that over 20 aspects of employee job satisfaction were examined including career advancement opportunities, benefits, flexibility to balance life and work, and compensation.
What does this mean for your organization? As the pool of talent continues to compress, compensation costs are likely to increase. However, it is important to note that compensation isn't the only factor that impacts job satisfaction and your success in recruiting and retaining talented employees will rest upon your ability to create a compelling employment package and satisfactory work environment overall.
Sound expensive? Not to fear. In a recent Red Ladder poll (November 2006), when asked their greatest wish for themselves or their co-workers in the coming year, here's what employees said:
? 36% want development opportunities that allow (them/ me) to stretch and grow
? 27% want more balance and alignment between (their/ my) personal and professional commitments
? 23% want tools, training and resources to get (their/ my) work done more efficiently.
This means that you have other options at your disposal that you can use to help to increase job satisfaction and retain employees without bankrupting your budget.
It will be important to remember that one size will not fit all. Managers will need to become skilled in assessing what motivates their employees and then work to find ways to deliver on these strategies while adhering to corporate policies and budgets. While this will take more time on the front-end, consider the costs to replace even one of your employees. These costs include lost productivity, recruiting fees, and training costs to orient a new employee to your company and get them up to speed, not to mention the impact to the remaining staff who will have to pick up the slack during the process, and of course, your customers.
Consider any investment you make in your employees like buying reverse insurance. You pay a small ongoing premium with the hopes that you won't ever need to pay a lump-sum premium (to cover the costs noted above) at the back-end to bring on even one new employee. In my opinion, that's a policy worth investing in.
Copyright 2007 Regina Barr, Red Ladder, Inc.
People often need a little motivation to feel inspired to go above and beyond their call of duty at work, which is why many companies offer business incentive travel. Most people work because they have to and if they don't have any incentive they will only do whatever it takes to avoid getting fired. A corporate incentive program that includes fun travel and team building events will give people that extra reason to make more sales and increase their own productivity.
Not many companies have the time or resources to devote members of their staff to planning these business incentive travel programs, which is why there are professional firms that offer corporate travel services. They can do the planning, put the wheels in motion, book the flights and accommodations, and put together a program that considers the unique needs of your business. Often times this will include a points system where the reward for each accomplishment is clearly outlined to avoid any feelings of unfairness or bias.
A good corporate incentive program should offer prizes that employees really want to earn to go along with the points. Some companies offer money or prizes like MP3 players and sneakers. Other companies allow employees to accumulate points throughout a business quarter for a more desirable prize, such as an exotic trip to Hawaii or any other location you can imagine. Corporate travel services can often be very affordable since the firms providing these services have special relationships with travel agencies and other service providers. So without spending a lot of money, a company can incentivize their employees with the offer of a great trip to a faraway location.
A good corporate incentive program that includes exotic travel for high performing employees is a surefire way to motivate the entire staff. It builds morale, shows employees that they are appreciated and lights a fire underneath them to do whatever they can to help make the company more profitable.
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Both Regina Barr & Grojan Fabiola are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Regina Barr has sinced written about articles on various topics from Women in Business, self improvement and motivation and Hypnotherapy. Regina Barr is a management consultant and speaker. Her consulting firm, Red Ladder, Inc., specializes in helping organizations and their leaders develop their full potential through strategic consulting and project management, executive coaching and trai. Regina Barr's top article generates over 22200 views. to your Favourites.